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  5. HXQ: HXS/HXQ These ETFs seem to be lagging their US counterparts lately, any idea why? [Global X Nasdaq-100 Index Corporate Class ETF]
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Q: HXS/HXQ These ETFs seem to be lagging their US counterparts lately, any idea why?
Asked by Mark on July 08, 2025
5i Research Answer:

Currency weakness is the issue here. The US$ has been very weak against most currencies. Against the Canadian dollar, it is down more than 5%. Thus, the ETFs priced in Canadian dollars will underperform if only the C$ price is considered.  If we look at HXQ vs QQQ, for example, currency moves explain practically the entire difference in performance year to date. 

Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in QQQ.

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